MiX Telematics reports key wins in South America - CNBC Africa

MiX Telematics reports key wins in South America

Earnings

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PHOTO: MiX Telematics is a global provider of fleet and mobile asset management solutions.

“Despite ongoing macro-economic headwinds and geopolitical unrest in key sales regions, our business continues to grow profitably,” said Stefan Joselowitz, chief executive officer of the company.

“We have again posted an adjusted EBITDA margin in excess of 19 per cent while investing in growth initiatives, particularly sales and marketing related efforts.

The global provider of fleet and mobile asset management solutions added that it has improved its traction in the Americas where it has had key wins in South America and developed a strong North American pipeline in the quarter.

(WATCH VIDEO: MiX Telematics reports Q3 positive results)

“We reached 495,000 total subscribers in the quarter, making us one of the largest fleet management providers in the world and we remain the only provider that has scaled global operations,” Joselowitz said.

“We continue to believe the combination of our global footprint, our penetration of large fleets of multi-national enterprises and ability to tap incremental growth markets with innovations like Beam-e have us poised to capture a significant portion of the growing telematics opportunity.”

[DATA MIX:MiX Telematics] saw its total revenue at 351.5 million rand for the quarter, an increase of 13.4 per cent compared to 309.8 million rand for the third quarter of fiscal year 2014.

“Growth in subscription revenue was driven primarily by an increase of over 66,000 subscribers, which resulted in an increase in subscribers of 15.6 per cent from December 2013 to December 2014,” the company said.

“Hardware and other revenue was 97.8 million rand, an increase of 8.7 per cent compared to 90.0 million rand for the third quarter of fiscal year 2014.”

(WATCH VIDEO: MiX Telematics reports 11% increase in interim revenue)

Adjusted EBITDA was 68.4 million rand compared to 65.5 million rand for the third quarter of fiscal year 2014 and profit for the period was 31.9 million rand, compared to 44.6 million rand.

Earnings per diluted ordinary share were four cents, compared to six cents in the third quarter of fiscal year 2014.

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